Vat audit and tax audit

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P. Shah (Querist)

01 September 2016 what are the limits for vat audit and tax audit for businessmen. what is the difference between vat audit and tax audit. plz can anyone clarify . its urgent

ACA Anurag

ACA Anurag (Expert)

01 September 2016 Dear user, Tax audit occurs when a business turnover exceed 1 crore and is done for income tax purposes. When vatable goods turnover exceed 1 crore then vat audit come into picture and it's for state vat. Hope your query is resolved Kindly like if my response has helped you

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P. Shah

P. Shah (Querist)

02 September 2016 now limit is increased from 1 crore to 2 crore for tax audit . so vat audit limit?

P. Shah

P. Shah (Querist)

02 September 2016 from 1/6/2016 onwards they have increased limit form 1 cr to 2 cr for tax audit . what about vat audit ? for vat audit limit also same 2 cr or what? confused

Sandeep Dharar

Sandeep Dharar (Expert)

03 September 2016 Dear, the limit varies from state to state, so please elaborate for which state u r asking. And regarding the enhancement in limit it has been done from the current year.

ACA Anurag

ACA Anurag (Expert)

03 September 2016 Dear User, we have given our answer in contest of AY 2016-17. For vat kindly share your state we will assist you in total

P. Shah

P. Shah (Querist)

03 September 2016 I am talking about Maharashtra State . Thanks a lot for helping me.

Sandeep Dharar

Sandeep Dharar (Expert)

06 September 2016 As per me the limit is 100 lakhs (1 crore). U can also wait for other experts reply

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